Taiwan’s stainless steel export volumes continued to increase in November, with export prices rebounding. Thanks to the significant rise in nickel prices and two consecutive price increases by steel mills, export prices are expected to remain firm in the near future.
Taiwan’s stainless steel export volumes surged to 102,117 tons in August last year, the highest level since September of the previous year. The volume rebounded to 79,284 tons in November, up by 19.7% month on month, marking growth for two consecutive months.
In general, stainless steel imports kept rising in November, and prices had a significant rebound. Market participants expect that stainless steel export prices will stay strong in the near term. As long as the supply of low-priced imported resources decreases, it will help alleviate the operating pressure on steel mills.